The real estate resort market in 2018

In recent years, besides apartment projects, townhouses, real estate condotel resort is also a trend that real estate investors are interested in and investment.

Resort real estate and development potential in 2018

Recently, with the heat of the domestic real estate market, many businesses have been focusing on improving and investing in infrastructure, human resource development as well as services. It is estimated that every year, besides a series of real estate projects, apartments and townhouses, the real estate market is also very active. Preliminary statistics, only in 2017 has thousands of condotel real estate products available for sale throughout the famous tourist attractions in the country. Prominent among them can be mentioned but local as Mui Ne – Phan Thiet, Phu Quoc, Nha Trang, Vung Tau, Quang Ninh …

The trend of resort real estate is blossoming because in recent years, Vietnam has welcomed a relatively large number of international tourists, with about VND 11 million visitors (in 2017 alone). an increase of 28% over 2016. This data shows that Vietnam is a potential destination, attracting international tourists. The number of domestic tourists also reached about VND63 million. Estimated total revenue from tourism is about VND 420 billion in 2017.

The typical area for the real estate, resort and tourism combined resort to Da Nang, in just 10 years, the supply of hotels from 3-5 stars in this locality has increased by 31%, followed by speed Tourist growth also increased to 22%. Next is Nha Trang, this locality has also many projects, special resort to serve the needs of domestic and foreign tourists. Currently in 2017, Nha Trang has about dozens of projects related to condotel real estate, with over 15,000 apartments are implemented, more than 2,000 units have been put into operation business.

Residential real estate is gradually attracting small investors

In addition, localities such as Quang Ninh, Phu Quoc, Phan Thiet, Ho Tram (Vung Tau) … are also starting to build many resorts to attract tourists.

Some inadequacies of the resort real estate market

– Legal framework for the type of resort real estate is still lacking. In part, due to the rapid development of this type of real estate, the legal framework for this type of property has not kept pace. Most businesses have to “swim” because there is no clear legal basis for this form.

– There is no balance between supply and demand. Specifically, after only two years of active activity, the real estate market is showing signs of slowing down due to the supply is gradually over waste, leading to strong competition. In addition, the importance of resort real estate must be closely linked to the facilities and location of the project. However, many investors have abandoned the realty of this real estate segment.

However, resort real estate still has certain legal barriers

– The real estate market is heavily dependent on the tourism industry, one of the industries that are vulnerable and vulnerable to economic, political and social changes.

– The type of convalescence despite the tendency of development, but in fact is not diversified, rich and the investment is not synchronized. Accordingly, the real estate development market in Vietnam is currently focused mainly on two main segments are resort villas and condotel type. This concentration has led to the “over abundance” of supply, the question should be raised is that investors should have more diversification of this real estate business model accordingly. With the demand and the actual conditions of Vietnam, to avoid the excess supply, the demand is still lacking.

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The real estate resort market in 2018

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